Telink Semiconductor made an announcement stating that its initial intention was to acquire 100% of the equity in Shanghai Panchip Microelectronics Co., Ltd. This acquisition was to be executed through a combination of share issuance and cash payment, alongside raising supplementary funds. However, on August 7, during the 23rd meeting of the second session of its board of directors, the company made the decision to halt the acquisition process and abandon the supplementary fundraising initiative, subsequently retracting all pertinent application documents.